Money is fiat currency. Literally a stand in for something with actual value. Money holds no intrinsic value. You can’t eat it, you can’t breathe it or use it in anyway except to trade for things that do have actual intrinsic value. The only thing money allows humans to do is go into debt. That debt has created a society with insane leaps and bounds in innovation, but the cost is that it’s a ponzi scheme that will collapse spectacularly.
Only if you treat debt as something absolute that has to be repaid no matter what.
In reality in many cases debt is written off as impossible to claw back and sold off to unscrupulous debt enforcement companies at a fraction of the nominal value. Who in turn also rarely manage to get the money.
We as society could simply decide to forget certain types of debt and basically that is what states do via inflation and which historically many societies have done via debt jubilees.
The book “Debt the first 5000 years” gives good overview on this matter and fiat currencies in general.
Money is fiat currency. Literally a stand in for something with actual value. Money holds no intrinsic value. You can’t eat it, you can’t breathe it or use it in anyway except to trade for things that do have actual intrinsic value. The only thing money allows humans to do is go into debt. That debt has created a society with insane leaps and bounds in innovation, but the cost is that it’s a ponzi scheme that will collapse spectacularly.
Only if you treat debt as something absolute that has to be repaid no matter what.
In reality in many cases debt is written off as impossible to claw back and sold off to unscrupulous debt enforcement companies at a fraction of the nominal value. Who in turn also rarely manage to get the money.
We as society could simply decide to forget certain types of debt and basically that is what states do via inflation and which historically many societies have done via debt jubilees.
The book “Debt the first 5000 years” gives good overview on this matter and fiat currencies in general.
You mean ‘any way’, right?